AGF Management (TSE:AGF.B) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

AGF Management Limited (TSE:AGF.B)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.75 and traded as high as C$19.10. AGF Management shares last traded at C$19.09, with a volume of 304,412 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AGF.B. Royal Bank Of Canada upped their price objective on AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Desjardins upped their price target on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Scotiabank increased their price target on shares of AGF Management from C$17.50 to C$18.25 and gave the company a “sector perform” rating in a research note on Wednesday, January 28th. Finally, TD Securities boosted their price objective on shares of AGF Management from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, AGF Management presently has an average rating of “Moderate Buy” and an average target price of C$18.54.

AGF Management Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The stock has a fifty day simple moving average of C$17.07 and a two-hundred day simple moving average of C$14.75. The company has a market cap of C$1.22 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

AGF Management (TSE:AGF.B) last posted its quarterly earnings results on Tuesday, January 27th. The company reported C$0.62 EPS for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The business had revenue of C$120.30 million during the quarter. On average, equities analysts predict that AGF Management Limited will post 1.5610119 EPS for the current fiscal year.

AGF Management Company Profile

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related. That said, the company does use fundamental, quantitative and alternative strategies to manages its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with 26% of AUM derived from institutional and subadvised accounts.